Iraq plans to offer 10 gas exploration blocks to US companies during an upcoming visit by Oil Minister Hayan Abdel-Ghani to the United States, he announced on Saturday. This initiative is part of Baghdad’s efforts to attract US investment into its energy sector, following previous licensing rounds where Chinese firms secured the majority of available fields.
The 10 gas blocks, unclaimed after six licensing rounds, will be presented in a new bidding process, according to Iraqi state media. This move is aimed at boosting Iraq’s domestic gas production.
Abdel-Ghani also announced that Iraq will launch a new gas investment project at the Al-Faihaa oil field in southern Iraq by the end of the year. With a capacity of 125 million standard cubic feet (mscf), this project is a crucial element of Iraq’s strategy to enhance its energy infrastructure.
This latest initiative follows recent agreements to develop 13 oil and gas blocks, aimed at increasing Iraq’s crude and gas output to supply power plants, which currently rely heavily on Iranian gas imports.
